Would there be any appetite for forming a 501c3 charitable organization in the USA for the sole purpose of raising money for SuttaCental and forwarding 100% of all raised funds to the SuttaCentral Development Trust?
For those unfamiliar with USA tax code, 501c3 refers to the part of the federal tax code that allows nonprofit and religious organizations to be exempt from taxes. In order for an individual to deduct contributions to nonprofit organizations from their reported income, the organization much be a registered nonprofit/religious entity under 501c3.
Filing for 501c3 status would create further incentives for individuals in the USA to donate to SuttaCental, as it would allow them to deduct those contributions from their reported taxable income.
Many international nonprofits operate like this with “Friends of” branches incorporated in different countries. I apologize if this has already been looked into, discussed, and decided on at another point. If there is some appetite for it, I’d be willing to put in some time helping to organize it and file paperwork.
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